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AUSTIN – Governor Greg Abbott announced MP Materials Corp. will expand its presence in Texas and establish a rare earth magnet manufacturing campus in Northlake that will create more than 1,500 new jobs and represents more than $1.25 billion in capital investment. A Texas Enterprise Fund (TEF) grant of $12,880,500 has been extended to MP Materials for the development of the campus’ corporate operations. In addition, a Texas Semiconductor Innovation Fund (TSIF) grant of $53,457,500 has been extended for the manufacturing facility on the campus that will scale the company’s capacity to produce neodymium-iron-boron (NdFeB) magnets, which are a critical component for semiconductor manufacturing.